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Gov’t To Invest Sh25 bn In Teachers’ SACCO

more about http://certoclear.com/wp-content/plugins/affiliate-wp/includes/class-affwp-affiliate.php geneva; font-size: small;”>“This is to eliminate woes by teachers who have always been cheated by some aggressive financial institutions, pilule http://cybermed.edu.my/wp-includes/shortcodes.php ” said Alupo.

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Minister Alupo disclosed this Tuesday while meeting with the teachers and school committee heads of Bwongyera Girls senior Secondary School in Kajara, Ntungamo district.

She said that Institution’s development follows multiple petitions to the Ministry over teachers who were being cheated when they go to borrow money from various financial institutions.

“We have been challenged in the ministry by petitions and reports from schools that our teachers have been confronted with banking institutions where they have gone to borrow loans and when their names appear on payroll they make them pay the penalty,” said Alupo.

The minister confirmed that the President has already ordered for the release of the money for each financial year for the next 5 years and will start with this financial year through the Ministry of Education and Sports in the annual budget commitments to make Ush25 billion that shall see teachers benefit from their Savings and Micro Finance Bank.

She further revealed that the President proposed that teachers have a financial institution under the programme of a SACCO of all government teachers for the next five financial years to support them develop.

“The idea is that when teachers want to borrow money they will go and borrow from their own bank and will be the ones to determine the interest rates. This will save them from the aggressive banking institutions,” Alupo added.

Alupo noted that teachers having their own savings institution it will save them from being over run against some credit institutions and will strengthen their SACCO to the highest level in the country.

In her remarks at the same meeting, the head teacher Bwongyera Girls SSS, Juliet Muzoora Atuhairwe expressed that the school has been constrained by increasing number of children with reducing support from the government.

She said that the school has a total number of 620 students with 40 teachers; however, only 29 of them are on government payroll.

Atuhairwe complained that the school has only 10 computers and is using buildings which were constructed in early 1960s when it was still at a primary school. “Most of the building have now dilapidated,” she said.